Pending home sales rose in January in every U.S. region except the West, according to new data.
The National Assn. of Realtors said that its index of pending sales — based on the number of home purchase contracts signed — rose 4.5% in January from the previous month and 9.5% from January 2012.
The index, at 105.9, is at it hits highest reading since April 2010, the month a popular tax credit for buyers was driving the market up.
“Favorable affordability conditions and job growth have unleashed a pent-up demand,” Lawrence Yun, chief economist for the group, said in a news release.